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Social Preferences in Economic Decisions by Roberto García is a document available to read on EtoBox.

Here is the utility function for Alex (UA) written out in terms of material payoffs (πA and πJ) according to the inequality aversion model of Fehr and Schmidt: UA(π) = πA - αA max(πJ - πA, 0) - βA max(πA - πJ, 0) Where: πA is Alex

Author

Roberto García

Language

EN